@Bruce Woodruff did a good job with some basic numbers and it looks like a loser.Plus you are paying a premium over the average.

Great job for taking the leap.

Start by scheduling a walk-through to assess the property and confirm renovation needs.

Because one of my first questions dealt with the job’s complexity, to which I asked the loan officer to review with underwriting if this would be a problem.

All the best.Got it and I see that you have scheduled a meeting on my calender.

My gut feeling and research is telling me the sellers did a poor job on the breaker panel and wiring.

I’m in the 33% tax bracket through my real job and this could be a big difference in taxes owed if we sold the property?

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

Misinformation stating that the guru dropped out of school, was fired from his job, failed in his business startup, but when he discovered” the “secret” of real estate investing, met with almost instantaneous success7.

Changing jobs!